“Poland’s central bank should supervise the entire financial sector and such a transfer might take place in the next one or two years” – newly appointed head of the Financial Supervision Authority (KNF) Marek Chrzanowski said. Chrzanowski also said the process of increasing domestic ownership in the Polish banking sector, known in Warsaw as „re-Polonisation”, was a positive phenomenon as it would make Polish banks less vulnerable to external shocks.
Chrzanowski’s comments echoed those of the central bank governor Adam Glapinski, who called earlier this year for transferring the responsibility for regulating banks to the central bank. „I personally think that the most reasonable solution, which has been implemented in many European Union countries, is to transfer supervision over all of the financial sector to the central bank,” Chrzanowski said.
